Galp Energia: RBC raises target price.
(CercleFinance.com) - RBC Capital Markets has reiterated its "outperform" rating on Portugal's Galp Energia, raising its target price to 16 euros (from 15.
50 euros).
In a research note sent to clients, the brokerage firm says the oil company should remain "a core energy holding for investors."
"We expect volume growth to accelerate into the second half of the year, while the downstream continues to be supportive for near term earnings and cash flow," RBC writes in the report.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
50 euros).
In a research note sent to clients, the brokerage firm says the oil company should remain "a core energy holding for investors."
"We expect volume growth to accelerate into the second half of the year, while the downstream continues to be supportive for near term earnings and cash flow," RBC writes in the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.